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The Bloomberg Commodity Spot Index fell 1.6% to its lowest level since January, down nearly 22% from its June peak and erasing all gains since Russia's invasion of Ukraine. Metals such as copper, nickel and aluminium declined as traders positioned for weaker demand amid a rallying US dollar.
A broad commodity sell-off driven by a strong dollar and recession fears reduces raw material price levels and signals weaker industrial and feed demand.
afr.comAlex GluyasSep 27, 2022After 2,356 past bullish macro events, DXY moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
After 301 past bearish macro events, CORN moved a median -0.1% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +0.2% over 20.
After 273 past bearish macro events, SOY moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.4%), and -0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
